Page 2 - Steel Productions

Steel demand to touch 190 MT-mark; production to reach 210 MT: SteelMint

India's steel demand is expected to grow at a CAGR of 7 per cent to touch 190 Million Tonne (MT) level by 2030, according to a report by SteelMint India. The demand will be largely fuelled by construction and infrastructure sectors, which contribute 60-65 per cent to the demand, the market research firm said. In 2030, India's steel demand is projected to reach 190 MT based on a 7 per cent Compound Annual Growth Rate (CAGR). "In the best case scenario, it can also reach 230 MT by 2030," the report titled 'India's Steel and Coking Coal Demand 2030' stated. The demand will also be pushed by sectors like auto and engineering, and factors like population growth, growing urbanisation, various government initiatives will be its key drivers. The demand is expected to touch 120 MT mark by 2023-end, and production will be at 136 MT, as per the report. India's crude steel production is expected to be at 210 MT by 2030, 45 per cent higher from production levels of 2023. Many countries, incl

India's steel production rises 4.1% in May, global output falls 5%

India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World Steel Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed. India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually. Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023. Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. I

Very strong India story will play out going ahead: JSW Steel Joint MD & CEO

In a Q&A, Jayant Acharya says he sees private capex coming in now, since capacity utilisations have improved

No freeze on disinvestment process of state-owned RINL: Steel Ministry

There is no freeze on the disinvestment process of RINL, the Steel Ministry clarified on Friday. Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the ministry, in a statement, said that the disinvestment process of RINL is in progress. "There is no freeze on the disinvestment process of RINL," the statement said. However, efforts are being made by the company to improve the performance of RINL, it added. Under the Ministry of Steel, Rashtriya Ispat Nigam owns and operates a steel plant with an annual capacity of about 7 million tonnes (MT) located at Visakhapatnam in Andhra Pradesh. RINL's Vizag steel plant is the country's first shore-based plant where the company manufactures various special products. The Cabinet Committee on Economic Affairs (CCEA) on January 27, 2021, gave its 'in-principle' approval for 100 per cent disinvestment of the government stake in RINL, also called Visakhapatnam Steel Plant or Vizag Steel

Why the European Union's CBAM is worrying for Indian steel exports

The mechanism will come into force in 2026, with a levy linked to EU carbon market price, on imported iron, steel, aluminum and other products

Steel export falls five-year low, imports at four-year high in FY23

During April-January, India's imports of Russian steel reached an eight-year high, and shipments were nearly five times higher than in the same period a year ago

Govt nods forming task forces to identify aspects of green steel production

Steel Minister Jyotiraditya Scindia has approved the formation of 13 task forces to identify action points for each aspect of green steel production and adoption of sustainable manufacturing processes. The task forces will focus on various aspects of green steel production, including raw materials, technology, and policy frameworks. the minister said. "We are committed to promoting sustainable steel-making practices in India. Setting up task forces is a significant step towards achieving this goal. We believe that the adoption of green steel production will not only benefit the environment but also lead to the creation of new jobs and economic growth" a steel ministry statement quoted Scindia as saying. Various stakeholders of the steel industry, academia and government officials will be part of the task forces. The minister further said that steel producers need to increase the capacity of their washeries so dependence on imports for coal can be reduced. He also suggested the play

ArcelorMittal-Nippon Steel India JV signs $5 bn loan with Japanese banks

ArcelorMittal SA on Friday said its Indian steelmaking joint venture with Asian peer Nippon Steel Corp has entered into a $5 billion loan deal

SAIL finalising plans to nearly double capacity to 34-35 mt by 2030-31

In next 3-4 years, it will add about 3 mn tonnes by sweating existing assets and debottlenecking, at a likely capex of Rs 10,000-11,000 crore

One year of Ukraine war: A roller-coaster ride for steel companies

In 2021, steel exports from the two countries stood at about 48 million tonnes, accounting for around 10% of global steel trade

Steel production to be doubled to 300 MT per annum by 2030: Scindia

The government, he told the gathering, has awarded 54 applications submitted by 26 companies under the production linked incentive (PLI) scheme for specialty steel

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

Chance for India to make steel for domestic, global needs: T V Narendran

Welcoming the government's move to remove export duty on steel, Tata Steel CEO T V Narendran said India has a great opportunity to make steel for domestic consumption as well as to meet global needs. "We welcome the government's decision to roll back the export duty on steel products and iron ore, imposed to deal with the inflationary situation, and we acknowledge the same," Narendran told PTI. India, being richly endowed with iron ore, has a great opportunity to make steel in India, for India, and for the world, he said. China, Japan, and South Korea, together export around 150 million tonne of steel annually despite importing most of their iron ore needs, Narendran noted. Six months after imposition of the levy on May 21, the government removed the export duty on steel items and iron ore to nil effective from November 19, 2022.

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

JSW Steel reports combined production growth of 12% to 5.68 MT in Jul-Sep

JSW Steel has reported a 12 per cent year-on-year growth in its combined steel production at 5.68 million tonne (MT) in the quarter ended September 2022. In the year-ago-period, its combined steel output was at 5.07 MT, JSW Steel said in a statement. "JSW Steel reported its group combined crude steel production at 5.68 million tonne, registering a growth of 12 per cent y-o-y, including the production at jointly controlled entities," it said. The jointly controlled entities include Bhushan Power & Steel Ltd (BPSL) and JSW Ispat Special Products Ltd (JISPL). The production at 5.68 MT was 3 per cent down compared to 5.88 MT in April-June period of ongoing fiscal year. "The drop in production is attributable mainly to extended maintenance shutdowns in JISPL, subdued market conditions in the USA and lower capacity utilisation in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes," it said.

AM/NS India receives environmental clearance for Hazira plant expansion

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

JSW Steel posts 22% jump in crude steel production in August this year

JSW Steel on Monday reported a 22 per cent jump in crude steel production in August this year to 16.76 lakh tonne. The private steel major had produced 13.77 lakh tonne in the year-ago month. The production of flat products at 12.01 lakh tonne in the last month was higher than 8.99 lakh tonne in August 2021. Long product volume grew by 25 per cent to 3.75 lakh tonne in the month under review as compared to 3.01 lakh tonne in the corresponding month last year. JSW officials said the average capacity utilisation was lower at 87.4 per cent due to a shortage of iron ore both in Karnataka and Odisha regions.

Coal crisis: Steel makers in Chhattisgarh look to enhance supply

The mineral-rich state contributes about 20 per cent to the country's secondary steel output

Export levy impact: Tata Steel deliveries drop 2% YoY despite higher output

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model

Global steel industry could face $518 billion stranded asset risk: Report

Much of this stranded asset risk is concentrated in Asia: 80 per cent of the BOF steelmaking capacity under development globally is planned in China and India